Gerber Kawasaki Wealth & Investment Management Has $1.85 Million Stake in Zoetis Inc. (NYSE:ZTS)

Gerber Kawasaki Wealth & Investment Management cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,344 shares of the company’s stock after selling 3,473 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Zoetis were worth $1,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Zoetis in the 4th quarter worth about $824,321,000. Wellington Management Group LLP grew its stake in Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares during the period. Raymond James Financial Inc. bought a new stake in Zoetis in the fourth quarter worth approximately $196,651,000. Polen Capital Management LLC lifted its stake in Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after buying an additional 1,116,541 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Zoetis during the 4th quarter worth approximately $178,688,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS opened at $153.58 on Friday. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The firm has a 50-day moving average of $158.91 and a 200 day moving average of $168.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The firm has a market cap of $68.52 billion, a P/E ratio of 28.08, a PEG ratio of 2.78 and a beta of 0.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. On average, research analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. Zoetis’s payout ratio is presently 36.56%.

Insider Activity

In related news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock valued at $312,254 in the last 90 days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZTS. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus dropped their price objective on shares of Zoetis from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler increased their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $214.40.

Zoetis Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.